Business News
Workers strike at St. Marys Cement in Bowmanville, Ont., over pension demands
BOWMANVILLE, Ont. - Dozens of workers set up picket lines outside the St. Marys Cement plant in this eastern Ontario town on Sunday over proposed changes to their pension plan. The walkout follows ...
Canadian inflation data could nudge dollar close to parity this week
TORONTO - The latest inflation data could move the Canadian dollar even closer to parity with the U.S. dollar this week after a strong employment report Friday sent the loonie surging. The currency...
Canada's Dempster helps Cubs slip past rival White Sox for 8-7 win
LAS VEGAS - Canadian Ryan Dempster and the Chicago Cubs handled a stiff breeze to slip past their rivals from the Windy City. Dempster of Gibsons, B.C., who is expected to grab a spot as one of the...
AbitibiBowater and Quebec Federation of Labour reach tentative deal
MONTREAL - An tentative deal has been reached between insolvent newspaper giant AbitibiBowater Inc. and the Quebec Federation of Labour. Details of the agreement, which were hammered out over nine ...
HST may not be right for every province but makes sense for Ontario: McGuinty
WINNIPEG - Moving to a harmonized sales tax may not be right for every province, but Premier Dalton McGuinty says it still makes sense for Ontario. Speaking after a Liberal fundraiser in Winnipeg F...
Vale in increase nickel production at strike-bound operations after vote
SUDBURY, Ont. - Vale said Friday it plans to increase nickel production at its strike-bound operations in Sudbury, Ont., after workers voted to reject the company's latest contract offer. More than...
Orange County, California, sues Toyota over vehicle defects on behalf of consumers
SANTA ANA, Calif. - Prosecutors in Orange County, California have filed a lawsuit against Toyota Motor Corp., accusing the automaker of knowingly selling hundreds of thousands of vehicles with acceler...
Lehman Brothers' accounting gimmick helped firm hide debt, examiner says
WASHINGTON - An accounting gimmick called Repo 105 provided financial relief for Lehman Brothers in the months before its spectacular collapse, an autopsy of the once-venerable Wall Street house has f...
Growing transportation demand suggests global freight recession over: analysts
MONTREAL - Growing demand for cargo transportation suggests the global freight recession may have ended, but industry observers remain concerned that a rising Canadian dollar may bring the progress to...
Base metals support TSX to first close above 12,000 since Sept. '08
TORONTO - The Toronto stock market moved slightly higher Friday, closing above the 12,000 mark for the first time in about a year and a half amid mixed signals about the health of the U.S. economy. ...
Satellite operator Telesat says removing ownership restrictions to help it grow
MONTREAL - Canadian satellite operator Telesat says removing foreign investment restrictions will mean that it can acquire other smaller satellite operators around the world to grow and better compete...
Analyst expects pause in big fertilizer M&A after Agrium walks away from CF
CALGARY - Now that a prolonged saga that entangled three major North American fertilizer producers appears to have finally been resolved, an analyst expects the sector to take a breather from big take...
Oil slides as mixed economic data and China reports put brakes on rising prices
NEW YORK - Oil prices ended the week lower following mixed economic reports that kept investors on edge about the outlook for improving energy demand. On Friday, benchmark crude for April delivery ...
Canadian pulp producers expected to benefit as prices rise due to Chilean quake
MONTREAL - Canadian pulp producers are expected to benefit from a sustained improvement in prices caused by the Chilean earthquake and a strike in Finland, analysts say. Chile accounts for about ei...
Goldcorp reports record 2009 production, aggressive growth strategy
Goldcorp Inc. is spending $40 million this year to develop its recently acquired El Morro gold-and-copper project in Chile, despite a dispute over ownership of the project with the world's largest gol...
Easing foreign ownership rules to help Canada's satellite industry: report
MONTREAL - The federal government's plan to ease foreign ownership restrictions in Canada's satellite industry would level the playing field for domestic players, DBRS says. "This would remove an i...
Americas Petrogas to raise $7 million in bought deal financing
CALGARY - Americas Petrogas Inc. (TSXV:BOE), a junior Calgary resources company, says it has struck a bought deal with a group of underwriters to issue more than 8.6 million shares at 81 cents each to...
Stocks little changed amid mixed U.S. data; loonie surges on solid jobs report
TORONTO - Gains were hard to come by on the Toronto stock market Friday afternoon as commodity stocks weakened in the wake of mixed signals about the health of the U.S. economy. The S&P/TSX composi...
McCoy Q4 loss reduce despite a drop in revenue; looks into global expansion
EDMONTON - McCoy Corp. (TSX:MCB) will continue looking into expanding globally in the year ahead after conducting a strategic review and posting a narrower fourth-quarter loss, the company said Friday...
Oil dips under $81 as mixed economic reports temper earlier enthusiasm
NEW YORK - Oil prices rose above US$83 and then fell below US$81 on Friday following mixed economic reports that kept investors on edge about the outlook for improving energy demand. By early after...
High Arctic's fourth-quarter loss cut more than half despite reduced revenue
RED DEER, Alta. - High Arctic Energy Services Inc. (TSX:HWO) saw its fourth-quarter and full-year results improve despite lower revenues, the financially struggling oilfield equipment and services com...
Agrium walks away from CF, making good on vow not to overpay for U.S. firm
CALGARY - Agrium Inc. will keep hunting for opportunities to grow its business, the chief executive of the Canadian fertilizer giant said Friday, expressing no regrets over his firm's decision to walk...
Retail sales post surprising gain in Feb., raising hopes for rebound; some analysts cautious
WASHINGTON - There was a surprising increase in U.S. retail sales in February, a month notable for the snowstorms that buried major eastern cities and shut down the government bureaucracy in Washingto...
Stella-Jones reports drop in fourth-quarter profit
MONTREAL - Stella-Jones Inc. (TSX:SJ) expects the economic recovery as well as acquisitions to generate stronger results this year despite a slump in fourth-quarter profits, the manufacturer of railwa...
InnVest REIT trims fourth-quarter losses despite hotel revenue decline
TORONTO - Hotel property owner InnVest Real Estate Investment Trust (TSX:INN.UN) says competitive pricing took a big toll on revenues and earnings last year. The Toronto-based trust said Friday tha...
Agrium stock soars after it abandons hostile US$5.5B bid for CF Industries
CALGARY - Shares of Agrium Inc. are soaring a day after the fertilizer giant said it would walk away from its year-long hostile pursuit of a U.S. rival. The Calgary-based company's stock was up 6.6...
Toronto stock market little changed; Canadian dollar surges following jobs data
TORONTO - The Toronto stock market was little changed Friday morning at the end of a lacklustre week. The S&P/TSX composite index gained 8.9 points to 11,988.6, finding support from base metals but...
Catalyst Paper reports $35.8 million loss in Q4, sales at $294.3 million
RICHMOND, B.C. - Catalyst Paper (TSX:CTL) has reported a $35.8-million loss in the fourth quarter as the recession continues to impact sales at the pulp and paper company. The Vancouver-area firm s...
Base metals, Potash Corp. support TSX, C$ surges as jobs data beats expectations
TORONTO - The Toronto stock market maintained a slight gain Friday morning, finding support from the base metals sector and good news from market heavyweight Potash Corp. The S&P/TSX composite inde...
Shares in India's Fortis zoom on $685M bid for stake in Singapore's Parkway hospitals
MUMBAI, India - Shares of Indian hospitals company Fortis Healthcare touched an all-time high Friday, after the company said it is buying nearly a quarter of regional hospital operator Parkway from pr...
